Alan Greenspan: Stock Market Bottom Will Take Awhile
Alan Greenspan was on Meet the Press today and said he believed the reaction to the U. S. credit downgrade would weigh on the markets. He stated the effect will be “profound.”
Greenspan talked about the importance of Europe to the U. S. economy citing that a fourth of U. S. exports go there. He added that Italy’s difficulty in selling its bonds creates a massive problem in that they can’t be bailed out.
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